For many motorists, this is the eternal question, and one that is not easily answered. Buying straight off the production line does have its advantages, yet one certainly pays for the privilege of taking possession of a brand spanking new vehicle. As a general rule, you can expect to lose a whopping 11% when you drive that new car out of the showroom, even if you were to sell it the following day, you have already absorbed more than 10% of the value of the vehicle. On the other hand, a new car has never been driven by anyone, and theoretically, the vehicle should be in tip top condition, and if you are a person who likes to get your hands greasy, you can add some TLC and the car should last a lifetime!
New: Long Term Advantages
If you are the kind of person that likes to maintain machinery and appreciates the complexity of a modern motor car, then buying new is a good idea if you plan to use the vehicle for at least a decade. The initial loss of value is cancelled out if the owner is prepared to correctly maintain the car and use it until it is no longer practical to repair. Many motorists become emotionally attached to their wheels, and will move heaven and earth to keep the car in tip-top condition, and in that case, new is always the best idea.
Used – Value for Money
Perhaps the most economical way to continually drive an almost new vehicle is to buy something that is a year old, use it for another 12 months and then resell it. If you are knowledgeable about used cars, and can negotiate well, then it is possible to experience affordable motoring. A one year old car would probably cost 20-25% less than a new model, and this is a considerable amount that can be avoided by looking for a well maintained used vehicle. There are online suppliers of quality cars, and if you are looking for a used BMW for sale, a quick search would point you in the right direction.
Obviously, if you opt for a new car, the manufacturer will give you a solid warranty, but if the car is second hand and the seller is a private individual, there might not be a warranty, and “sold as seen” is never a good idea. Buying a used car from a reputable dealer gives you a warranty not dissimilar to that of a new vehicle, which is preferable to taking a chance. Imagine buying a 2 year old car and in the first few hours the engine dies! If you purchased the car under sold as seen, then the seller is not liable in any way, and this is why you should always buy used cars from a reputable dealer.
Whether a new or used car is the right choice very much depends on what you expect from your motoring experience, and there are advantages for both, but if you are thinking of buying a car, old or new, talk to a reputable dealer, as this gives you security with your investment.